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Food Tech Market size will reach $ 342.52 billion by 2027

Food Tech Market size will reach $ 342.52 billion by 2027

News Highlights: Food Tech Market size will reach $ 342.52 billion by 2027

Vancouver, British Columbia, January 14, 2021 (GLOBE NEWSWIRE) – According to a recent analysis by Emergen Research, the global food tech market is expected to reach $ 342.52 billion by 2027. This high growth can be attributed to the increasing penetration of the Internet and smartphones in emerging economies. Food processing industries are increasingly adopting advanced technologies as a result of strict regulations implemented by government and social organizations related to food safety, animal welfare, health, climate and environment, resulting in a minimum of food waste and reduced energy consumption, which and some of the factors stimulate the growth of the food tech market.

The benefits of favorable discounts and cash-on-delivery options stimulate the acceptance of and preference for e-commerce channels in emerging economies, which is a major driver of the growth of the food tech market. Fierce competition between food tech startups in emerging economies …

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